Fraudulent Accounts and What to Do With Them

In this era of data breaches and stolen identity, it is not uncommon to receive the dreaded call or letter stating that someone has opened a credit card or line of credit in your name. While informing the creditor that the account does not belong to you is a necessity, it is not the only necessary step. Commonly, after an account is reported to the creditor as being a fraudulent account, the creditor ceases to communicate with the individual. In turn, the individual interprets the lack of communication as the matter is resolved when that is commonly not the case. Here at Loan Lawyers, it is not uncommon to meet consumers who have been sued for an account that was previously reported as being fraudulent. These consumers are commonly in shock as to the lawsuit as they believed that this matter was resolved in the past.

If you have reason to believe that a credit card or other debt was fraudulently incurred in your name, it is important that you:

  1. Report the matter to the creditor and keep detailed records of each contact with the creditor. When dealing with issues of fraudulent accounts, it is preferable that all communication is in writing and that you retain a copy for your records. In the event, you opt to communicate verbally, it is extremely important to keep detailed notes of each and every communication. It is helpful to include the phone number that you called (or that called you), the date and time of the communication, the representative with whom you communicated and their direct contact information, if available. It is also suggested that you write a quick blurb as to what happened in the call. If the creditor indicates that the matter is resolved and you are not being held liable for the charges, demand a written correspondence so stating.
  2. Report the matter to the law enforcement and obtain a police report. This step is often omitted by consumers, who later come to regret not making a report. Making and obtaining a police report is your proof that a crime has been committed against you. While many companies and even some police officers will try to tell you that you do not need one or that the crime was committed over the internet so they cannot write you a report, do not let that deter you from getting a report. Remember this is about you protecting yourself from future harm.

For more information about the FDCPA please visit our website at

Loan Lawyers has helped over 5,000 South Florida homeowners and consumers with their debt problems, we have saved over 1,800 homes from foreclosure, eliminated $100,000,000 in mortgage principal and consumer debt, and have collected millions of dollars on behalf of our clients due to bank, loan servicer, and debt collector violations, negligence and fraud. Contact us for a free consultation to see how we may be able to help you. Call us at 1-888-Fight13 (344-4813).